Invoiced, Mastercard Team On SMB Reconciliation

Invoiced, the accounts receivable automation platform, is partnering with Mastercard on a boost for the Mastercard Track Business Payment service, which will offer new reconciliation services for smaller businesses, a Thursday (March 18) press release emailed to PYMNTS said.

Invoiced clients will now have the option to automate collections activities. The process works by letting the client’s customers bypass the client’s Invoiced-powered payment portal and then remitting payments from the buyer’s accounts payable system.

With the new service, midsized companies will get a new way to issue invoices to large businesses, government agencies and other such places, which often need payments to be requested via an accounts payable portal.

Because of that, the new integration will help to deliver better efficiency for accounts receivable, the release said.

Mastercard Track Business Payment service encompasses a business network of both suppliers and buyers, and Invoiced customers will now be able to access more of their accounts receivable coverage. Invoiced has brought along thousands of suppliers who have interacted with over a million buyers, the release said.

Adam Weinroth, chief marketing officer and head of partnerships for Invoiced, said there was a high demand for the integration.

“Because so many businesses want to leverage accounts receivable automation, even for their biggest customers, this new partnership unlocks a critical new use case that would have previously been highly challenging or simply off the table for most midsized companies,” he said, according to the release.

Invoiced also recently launched its Invoiced ERP Connect software, which intends to link enterprise resource planning (ERP) and accounting technologies on-site with the Invoiced A/R Cloud.

Despite several companies moving their services to the cloud, many still kept systems on-site for better security and other such advantages. The new Invoiced offering helps through a “no compromise” offering, allowing for the linking of that on-site tech with the cloud. Invoiced ERP Connect comes with features like cross-platform compatibility and can be used on-site and with operating systems like Windows, Linux and macOS.